Yahoo! has agreed to buy the bloggin site Tumblr for $1.1-billion in cash. This marks the biggest deal for Yahoo! CEO Marissa Mayer since taking over last summer. Mayer is trying to revamp the company and tap into a young, active online user base. Tumblr was started six years ago by high school dropout David Karp. Under the deal, the 26-year-old Karp will remain with the company. It's unclear if Yahoo will keep all of Tumblr's 175 employees. Mayer is trying to revamp the company and tap into a young, active online user base. Tumblr was started six years ago by high school dropout David Karp. Under the deal, the 26-year-old Karp will remain with the company. It's unclear if Yahoo will keep all of Tumblr's 175 employees.

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